ServiceNow Inc. ( NOW ) has acquired Logik.ai, a company specializing in AI-powered Configure, Price, Quote (CPQ) solutions.

The deal is expected to bolster ServiceNow's ( NOW ) presence in Customer Relationship Management (CRM) and streamline sales and order management processes.

By integrating Logik.ai's technology, ServiceNow ( NOW ) aims to simplify complex sales cycles, enhance productivity and improve efficiency for businesses across various industries.

Industries such as high-tech manufacturing and medical devices often struggle with inefficient sales processes caused by complex product setups and outdated pricing structures.

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Logik.ai's AI-powered CPQ solution aims to resolve these challenges by streamlining transaction workflows, minimizing errors, and speeding up deal finalization.

The acquisition of Logik.ai is expected to strengthen ServiceNow CRM and Industry Workflows segment, which is already ServiceNow’s fastest-growing business.

The integration will introduce AI-powered selling tools that refine quoting, order placement, and fulfillment processes.

Logik.ai's modular CPQ platform accommodates various sales channels, such as business-to-business, partner networks, and self-service for consumers.

Currently, Logik.ai is compatible with nearly 50 technology partners, including ServiceNow ( NOW ). The acquisition is subject to customary regulatory approvals and closing conditions.

Details of the transaction were not disclosed. ServiceNow ( NOW ) held $2.3 billion in cash and equivalents as of Dec. 31, 2024.

NOW Price Action: ServiceNow ( NOW ) shares traded lower by 5.09% at $782 at publication Thursday.

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